Although we work through financial markets, our goal is to help Main Street, not Wall Street.
Janet YellenRead
Transparency concerning the Federal Reserve's conduct of monetary policy is desirable because better public understanding enhances the effectiveness of policy. More important, however, is that transparent communications reflect the Federal Reserve's commitment to accountability within our democratic system of government.
Interpretation
What this quote means
Transparency in monetary policy helps the public understand and trust the government's actions, leading to better outcomes.
Janet Yellen emphasizes the importance of transparency in the Federal Reserve's monetary policy, arguing that when the public is better informed, the effectiveness of such policies is enhanced. Furthermore, transparent communication signifies the Federal Reserve's dedication to accountability within a democratic framework, ensuring that citizens can hold the institution responsible for its decisions.
Themes
TransparencyAccountabilityMonetary PolicyPublic UnderstandingDemocracy
In practice
Example use cases
During a lecture on economic policy, a professor might quote Yellen to show the importance of government accountability.
More from Janet Yellen
All quotes →We need to keep in mind the well-established fact that the full effects of monetary policy are felt only after long lags. This means that policy makers cannot wait until they have achieved their objectives to begin adjusting policy.
Janet YellenRead
A clear lesson of history is that a 'sine qua non' for sustained economic recovery following a financial crisis is a thoroughgoing repair of the financial system.
Janet YellenRead
For decades, the pace of technological change in manufacturing has outstripped that in the economy as a whole. And, so, firms - manufacturing firms - have found it easier to continue producing by - with - reducing their workforces.
Janet YellenRead
Inequality has risen to the point that it seems to me worthwhile for the U.S. to seriously consider taking the risk of making our economy more rewarding for more of the people.
Janet YellenRead
In government institutions and in teaching, you need to inspire confidence. To achieve credibility, you have to very clearly explain what you are doing and why. The same principles apply to businesses.
Janet YellenRead
Similar quotes
We are not making this demand for the sake of a principle, but in the interests of the proletarian class.
Clara ZetkinRead
As long as in this territory west of the Jordan river there is only one political entity called Israel, it is going to be either non-Jewish or non-democratic. If this bloc of millions of Palestinians cannot vote, that will be an apartheid state.
Ehud BarakRead
Mark my word, if and when these preachers get control of the [Republican] party, and they're sure trying to do so, it's going to be a terrible damn problem. Frankly, these people frighten me. Politics and governing demand compromise. But these Christians believe they are acting in the name of God, so they can't and won't compromise. I know, I've tried to deal with them.
Barry GoldwaterRead
I found this national debt doubled, wrapped in a big bow waiting for me as I stepped into the Oval Office.
Barack ObamaRead
Optimism comes less easily today, not because democracy is less vigorous, but because democracy's enemies have refined their instruments of repression.
Ronald ReaganRead
Representative democracy is a remarkably blunt instrument. Hundreds of issues are bundled together at every election, yet the vote tends to swing on just one or two of them.
George MonbiotRead